Bitstream Inc. (Nasdaq: BITS) today announced that the United States
Department of Justice (the "DOJ") has closed its inquiry into the
proposed merger (the "Merger") between Bitstream and Monotype Imaging
Holdings Inc. As previously announced, Bitstream has fixed March 8, 2012
as the record date (the "Record Date") for the spin-off (the "Spin-Off")
distribution of its wholly-owned subsidiary, Marlborough Software
Development Holdings Inc. ("MSDH"). On March 14, 2012, each owner of
Bitstream Class A Common Stock will receive a distribution of one share
of MSDH Common Stock for each share of Bitstream Class A Common Stock
that they owned as of the close of trading on the Nasdaq Capital Market
on the Record Date.
Bitstream's stockholders will vote to approve the Merger at a special
meeting of stockholders on March 19, 2012 (the "Special Meeting").
Subject to such stockholder approval and satisfaction or waiver of all
closing conditions to the Merger, it is expected that the Merger will be
completed immediately following the Special Meeting on March 19, 2012.
Forward Looking Statements Disclosure
This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements are based on management's current expectations. Actual
performance and results of operations may differ materially from those
projected or suggested in the forward-looking statements due to certain
risks and uncertainties, including, without limitation, market
acceptance of the Company's products, competition and the timely
introduction of new products. Additional information concerning certain
risks and uncertainties that would cause actual results to differ
materially from those projected or suggested in the forward-looking
statements is contained in the Company's filings with the Securities and
Exchange Commission, including Bitstream's Annual Report on Form 10-K
for the year ended December 31, 2010, as supplemented by Bitstream's
subsequent quarterly reports on Form 10-Q in 2011. We undertake no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or otherwise
after the date of this document.
About the Spin-Off
The shares of MSDH to be issued in the Spin-Off will be distributed
pursuant to a prospectus dated February 14, 2012 filed as part of MSDH's
registration statement on Form S-1, File No. 333-177915, that was
declared effective by the Securities and Exchange Commission on February
14, 2012. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy any MSDH securities nor will there
be any distribution of the MSDH common stock in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
